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SEC advises investors not to rely on unsolicited stock tips circulated through social media
The Securities and Exchange Commission of Sri Lanka (SEC) has observed that unsolicited messages purporting to be stock tips/ investment advice with respect to listed companies are being circulated through short message service (SMS), websites and social media platforms like WhatsApp, Facebook, Twitter, YouTube etc. The SEC has noted that these messages have been directed […]
‘ ratings on recalibration; 2 downgrades
Fitch Ratings has revised the National Long-Term Ratings of Sri Lankan financial institutions following the recalibration of the agency’s Sri Lankan national rating scale. The recalibration is to reflect changes in the relative creditworthiness among Sri Lankan issuers following Fitch’s downgrade of the sovereign rating to ‘CCC’ from ‘B-‘/Negative on 27 November 2020. Fitch typically […]
CBSL requests banks to refrain from entering into forward contracts of forex for 3 months
Sri Lanka’s Central Bank requests licensed commercial banks to refrain from entering into forward contracts of foreign exchange for a period of three months with immediate effect. The new banking act direction has been issued in view of the need to avoid excess volatility in the foreign exchange market and the impact on banks’ risk […]
Sunshine Holdings selects IFS ERP platforms for subsidiary companies
IFS, the global enterprise applications company, announces that Sunshine Holdings PLC, a leading conglomerate will roll out a comprehensive enterprise resource planning (ERP) platform from IFS for itself and ten other subsidiary companies, including companies in the healthcare sector, consumer sector (including Watawala and Zesta tea), and renewable energy sector. Having used IFS since 2016, […]
Samp Bank partner with Central Bank to promoting QR payments
Sampath Bank PLC joined hands with the Central Bank of Sri Lanka (CBSL) yet again to raise awareness and increase acceptance and usage of LANKAQR, the common Quick Response (QR) code standard for the country that was introduced in 2020. Encouraging consumers to adopt LANKAQR for their day to day transactions, Sampath Bank held a […]
First Capital Holdings announces LKR 2 Billion Debenture Issue
First Capital Holdings PLC (the Group), intends to raise a sum of LKR 1 billion via a Listed, Rated, Unsecured, Senior, Redeemable Debenture issue with a tenor of 5 years with an option of issuing up to a further LKR 1 billion in the event of an oversubscription. Accordingly, FCH will issue 10 million debentures, […]
Sri Lanka Ports Authority implements clearance of all imported goods through electronic methods
The Sri Lanka Ports Authority (SLPA) has taken steps towards the clearance of all imports at the Port of Colombo through electronic payments via the Internet. This allows port users to make payments from their homes or offices to clear goods from the Port of Colombo. This special facility will enable port users to make […]
Sri Lanka to receive first batch of Covid-19 vaccines next week: President
President Gotabaya Rajapaksa said that Sri Lanka will receive the first batch of Oxford-AstraZeneca Covid-19 vaccines manufactured in India next week, free of charge. Speaking at a public gathering today, the President said that the government is also working on buying the Covid-19 vaccine from Russia, China, and India. The National Medicines Regulatory Authority (NMRA) […]
President appoints CoI to investigate entire gamut of HR probes & findings
President Gotabaya Rajapaksa has appointed a 3-member Commission of Inquiry (CoI) to investigate, inquire into and report or take necessary actions on findings of preceding Commissions or Committees appointed to investigate into human rights violations, serious violations of International Humanitarian Law (IHL) and other such offences. The Extraordinary Gazette notification pertaining to this was issued […]
Opinion: Extended producer responsibility to help address Sri Lanka’s plastic waste management
By Manjula de Silva, Secretary General and CEO, Ceylon Chamber of Commerce Each year, over 640,000 metric tonnes of plastic leak into the Indian Ocean from Sri Lanka (Clean Cities, Blue Ocean, June 2020). The Western Province alone generates around 7500 metric tons of solid waste every day, out of which only 3500 metric tons are […]